The Crypto Fear and Greed Index was 95 for the day as Bitcoin traded at $ 19,041, at press time. Tezos formed a bullish reversal pattern that has not yet been confirmed, while Neo is likely to go back lower to a level of support. Finally, Aave was trading within an ascending channel and closing under the channel could take it to the $ 74 support level in the coming days.
XTZ formed a descending triangle, though its withdrawal address has not yet been confirmed. The OBV form a series of higher lows to underline an increase in purchase volume.
This was an indication that the cut could go north, though a drop to $ 2.2 is still possible before moving toward the resistance level at $ 2.56. A more conservative target for the cut would be $ 2.45.
Closing below $ 2.1 would indicate that bulls are losing traction and the notion of bullish outbursts would be invalid.
NEO formed the double end of Adam and Adam, with the left summit seeing much more trading volume than the right. However, despite closing below the valley floor, the price still reversed itself and recorded a weak upward bounce.
This can be attributed to the positive performance of Bitcoin and Ethereum in the market at the same time, which likely influenced the NEO movement.
In fact, there was very little uplift before the double peak for NEO to actually revert to it.
Finally, the RSI it showed neutral momentum at the time of writing, but was wading into bearish territory after testing the 50 zone as resistance, indicating a decline was underway. Excluding any strong Bitcoin movement in the next few days, it seemed likely that NEO would fall to test the $ 16.6-support level.
The idea of an inverted cup and handle formed by AAVE a week ago was quickly invalidated by the strong earnings posted above the $ 60 level. It was trading at $ 87, at the time of writing, an impressive 44 % in the span of six days.
AAVE was trading within an ascending channel, and the price tested the lower channel boundary as support. The MACD well above the zero, but formed a bearish cross.
Closing under the channel could see AAVE revisit the $ 74 support level.
News of the launch of Aave Protocol V2 a few days ago saw prices surge, and the bulls may be able to drive the prices higher with the $ 100 region being a possibility.